CONTENTS

BRUSSELS (ANA-MPA) -- The only way to avoid an immediate default is for
Greece's Parliament to approve a revised economic programme, EU
Economic and Monetary Affairs Commissioner Olli Rehn said here on
Tuesday.

In a written statement issued in Brussels, the Commissioner stressed
that:

"This week Greece faces a critical juncture. Both the future of the
country and financial stability in Europe are at stake. I fully respect
the prerogatives and the sovereignty of the Greek Parliament in the
ongoing debate. And I trust that the Greek political leaders are fully
aware of the responsibility that lies on their shoulders to avoid
default.

"The only way to avoid immediate default is for Parliament to endorse
the revised economic programme. The programme includes both the
medium-term fiscal strategy and the privatisation programme. They must
be approved if the next tranche of financial assistance is to be
released. (ANA-MPA)

"To those who speculate about other options, let me say this clearly:
there is no Plan B to avoid default.

On their part, European Council President Herman van Rompuy and
European Commission President Jose Manuel Barroso also appealed to
Greece's political leadership, MPs in particular, to vote for the
medium-term fiscal strategy in Parliament.

Both underlined that "there is no other way" and that those, who
misleadingly maintain that there is, should assume their responsibility
for likely "grave consequences". (ANA-MPA)

Speaking before the European Parliament here, they stated that in case
of a negative vote, the consequences will be heavy not only on the
Greek and the European economy but on the global economy as well.

Barroso underlined that the Greek economy should regain its lost
credibility, adding that the lack of it is apparent considering the
mass transfers of Greek capital to banks abroad. He said that the
process is painful, adding that there is no magic solution and pointed
out that there is no other way than the materialization of the
programme agreed between Greece, the EU and the IMF.

He stressed that for years, Greece had lived beyond its means and that
today the EU is willing to help it correct the imbalances provided that
Greece wants to be helped. He expressed the wish that the Greek MPs,
whose opinion he will respect, will opt for the one and only correct
path there is.

European Council President van Rompuy praised the Greek government's
determination to implement the necessary measures despite the social
tension, adding that he is fully aware of how difficult a task this can
be from the time he served as the finance minister of Belgium.
(ANA-MPA)

(ANA-MPA) -- The law outlining the Medium-Term Fiscal Strategy
Programme's implementation until 2015 was passed by members of
Parliament's standing committee on economic affairs on Tuesday, with
the majority vote from ruling party MPs.

A second reading will be completed later in the afternoon, while an
urgent debate and roll call vote will take place in the Parliament's
plenary session on Wednesday. A vote on a related enabling law will
come on Thursday.

Finance Minister Evangelos Venizelos tried to assuage (ANA-MPA) MPs
fears as regards the privatisations, assuring them that Parliament will
monitor the process closely.

Several ruling PASOK party MPs maintained that privatisation procedures
should not be sped up, stressing that public assets should not be sold
during a recession to avoid losing on their value. They referred to an
inability to collect revenues, underlining that valuable time was lost
and insisted on structural changes in favour of taxpayers who are hit
the hardest by the austerity measures.

On their part, main opposition New Democracy (ND) party MPs said that,
in principle, they will vote down the law and will present the party's
position on certain articles of the draft law in Wednesday's plenary
session debate. ND accused the government of being inconsistent and
lacking credibility, characterising the measures unfair and
ineffective. (ANA-MPA)

(ANA-MPA) -- Main opposition New Democracy (ND) leader Antonis Samaras,
speaking in Parliament on Tuesday during the debate on the Medium-term
Programme, said his party is voting against the plan in its entirety
and in a coordinated fashion, "as every serious political organisation
must do, because its assessments are untenable, its predictions are
conflicting and it is economically ineffective and counter-productive."

Samaras also criticised Prime Minister George Papandreou, accusing him
that with his policy "he achieved both socialism and barbarism."

The ND leader called on deputies to reject the (ANA-MPA) "false
dilemmas and to vote against the government's deadlocks" and accused
the ruling PASOK party of "having a talent in blackmailing the people."

Samaras pointed out that "Mr. Papandreou lately invokes patriotism when
he is about to take painful measures. But patriotism means a collective
effort so as to make our country better. PASOK remembers patriotism
when it is going to blackmail for even worse woes. For us patriotism
has a meaning when it speaks the language of freedom, not coercion, and
when it opens paths of prospect and hope." (ANA-MPA)

Finance Minister Evangelos Venizelos replied to Samaras, accusing him
of being "absent from the effort for the salvation of the country" and
as having "an impressively conventional speech, built on the
traditional antiquated conception that the government is to blame for
everything," adding that "Mr. Samaras is holding safety distances, he
is thinking on the basis of his party interest, without thinking of the
country's growth prospect." (ANA-MPA)